The Automotive MMI (Monthly Metals Index) moved sideways, dropping a slight 2.3%. This comes as the US automotive market, manufacturers in particular, are facing a one-two punch of rising costs and potential shortages in their metal supply chains. A big reason for this is steep tariffs on steel, aluminum and other inputs, which are driving […]
Category: Ferrous Metals
Raw Steels MMI: Steel Prices Search for New Low
The Raw Steels Monthly Metals Index (MMI) moved sideways with a downside bias, falling 0.96% from August to September. U.S. Steel Prices Continue to Unravel U.S. steel prices remain in search of a new bottom. As of early September, hot rolled coil prices sit at their lowest level since February 21, having unraveled much of […]
Will EU Steel Hikes Spill Over into U.S. Prices?
According to MetalMiner’s sources, ArcelorMittal sought another increase in its hot rolled coil coffers on August 5. This is in addition to the increase the steel industry leader sought in the previous week. Reports indicate that the Luxembourg-headquartered company is now seeking up to €610 ($705) per metric ton EXW for Q4 delivery, up almost […]
Raw Steels MMI: Steel Prices Soften, More Tariffs on Deck
The Raw Steels Monthly Metals Index (MMI) accelerated during the month, moving up 3.87% from July to August as steel prices continued to slide. U.S. Steel Prices Continue Slow Downtrend U.S. steel prices have remained within a slow but steady downtrend since their late-March peak. As of mid-August, prices were down 9.49%, falling to their […]
Automotive MMI: Tariffs Fuel Turbulence in Auto Metals, U.S. Automakers Face Summer Price Spikes
The Automotive MMI (Monthly Metals Index) moved sideways, dropping by 0.84%. The U.S. automotive sector is reeling from recent developments that are dramatically altering the landscape for metal sourcing and procurement. Over the past month, new metal tariffs and trade deals, wild swings in aluminum and copper prices and frank warnings from automakers have converged […]
Aluminum MMI: MW Premium Futures Stagger, Aluminum Demand Soft
The Aluminum Monthly Metals Index (MMI) edged higher, but the pace slowed. Ultimately, the index saw just a 0.85% rise from July to August as the price of aluminum seemed to enter a period of flux. Track other MetalMiner monthly indexes here, and compare how the overall industrial metal market is performing. Midwest Premium Futures […]
European Steel Giant Shuts Down, What Will Happen Now?
ArcelorMittal plans to idle blast furnace No. 3 at its Dąbrowa Górnicza plant in Poland’s Silesian Voivodeship. The steel industry giant made the initial announcement back in September, citing current and future market factors. “The reason for this decision stems from the extremely difficult and constantly deteriorating market conditions,” ArcelorMittal Poland said on July 24. […]
Canada Slaps Higher Tariffs on Chinese Steel, Beijing Decries Move
Canada has joined the growing list of countries imposing tariffs on steel imports from China. Late last week, Canadian Prime Minister Mark Carney unveiled a comprehensive strategy to curb the influx of low-cost steel into Canada, with a focus on Chinese material. Like other countries, the main reason for the steel tariffs is to shield […]
Can China’s Steel Rally Outrun Its Struggling Property Market?
In the end, China exceeded market expectations, posting a 5.2% year-on-year growth on July 14 compared to the market forecast of 5%. According to the economic data released by the National Bureau of Statistics, strong trade and industrial production helped to propel growth, indicating that China has braved the tariff war unleashed by the United […]
European Steel Prices Slide, But Will They Stay There?
Sources tell MetalMiner that lower seasonal demand has continued to push hot-rolled coil prices down in northern Europe since late June. In terms of steel prices, this means that mills are now quoting €540–550 ($625–640) per metric ton ex-works for August rolling and September delivery, down from €570 ($660) reported on June 23. It is […]